SAN FRANCISCO (AP) _ Dolby Laboratories Inc. (DLB) on Thursday reported fiscal first-quarter net income of $80 million.

On a per-share basis, the San Francisco-based company said it had net income of 77 cents. Earnings, adjusted for one-time gains and costs, came to $1.01 per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The creator and licensor of audio, video and voice technologies posted revenue of $351.6 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $364.1 million.

For the current quarter ending in April, Dolby Laboratories expects its per-share earnings to range from 72 cents to 87 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.01.

The company said it expects revenue in the range of $315 million to $345 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $353.8 million.

Dolby Laboratories expects full-year earnings in the range of $3.52 to $4.02 per share, with revenue ranging from $1.34 billion to $1.4 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DLB at https://www.zacks.com/ap/DLB

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